“Adobe Systems Inc. (ADBE) reported first-quarter 2013 earnings of 22 cents per share, beating the Zacks Consensus Estimate of 20 cents. Adjusted earnings per share exclude one-time items but include stock-based compensation expense.
Revenues
Adobe’s total revenue was $1.008 billion, down 12.6% sequentially and 3.6% year over year. However, reported revenues were slightly above management’s expectation range of $950 million to $1.0 billion attributable to increased adoption of Adobe’s Creative Cloud.
Products generated 67.0% of Adobe’s revenues and were down 16.4% year over year. Subscription revenues comprised 22.0% of total revenue, up 53.4% sequentially and Services & Support brought in the balance, increasing 19.1% year over year.
Revenues by Segment…”
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